South America Vegan Butter Market: Industry Analysis and Forecast (2024-2030)

South America Vegan Butter Market Overview:

A vegan or plant-based diet excludes meat, fish, eggs, and dairy products, including milk, cheese, and yogurt, all of which are traditionally derived from animals and their derivatives. All animal products, including dairy, fish, and meat, are prohibited in a vegan diet.

 

The increasing vegan population has significantly affected the vegan butter market. However, the population's growing interest in plant-based food and food ingredients is a critical factor in growth. During the last few years, the demand for plant-based butter is grown considerably in both household and food service industries.

 

 

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Consumption of conventional butter has widely been associated with obesity, heart disease, and other ailments. A survey suggested that a tablespoon of butter accounts for more than 30% of the daily recommended saturated fat in a 2000-calorie diet. The growing concerns, as well as awareness about health, animal cruelty, and its adverse environmental impact, provide huge market opportunities for the key players in the South American market.

 

South America Vegan Butter Market Dynamics:

The booming demand from millennials and emerging regions is expected to drive the South American vegan butter market revenue to rise at a robust CAGR. Key growth drivers in the vegan butter market include technological advancements that allow for effective manufacturing and increasing product variety, innovative design and packaging, efficient operational maintenance, and sales monitoring.

 

During the last few years, the demand for plant-based butter is grown considerably in both household and food service industries. Earlier, peanut butter was the only alternative to dairy butter. However, years of technological advancement and customer preferences for plant-based butter have driven the growth of multiple butter types with different seeds and nuts, rich sources of protein, essential fatty acids, fiber, and other nutrients.

 

South Americans who are patients with heart diseases, obesity or diabetes often recommended to follow fat-free diets and reduce dairy products intake. They often look for healthier options to replace dairy products, so vegan butter is one such healthier option. This leads to a growth in the vegan butter market in South America.

 

As per a study, the regional average of vegetarians/vegans in South America was approximately 8% of the total population in 2016. The consumers in South America have a greater understanding about the benefits of eating clean, and this has led to a growth in the South American Vegan butter market.

 

Due to various changing political conditions in different parts of the world, such as the Ukraine-Russia war and unstable conditions in Sri Lanka, the prices of vegan butter raw materials are increasing substantially, causing significant market limitations for vegan butter over the projection period.

 

Full alterations brought in by the pandemic COVID-19 in the supply chain, and adjustments in consumer behavior are forcing the business players to be more watchful and forward-looking to stay ahead of the competition.

 

Due to a decrease in businesses all around South American regions due to lockdowns, consumers' spending power has also reduced. Since butter is a premium product, the sales of vegan butter considerably reduced owing to high prices over regular butter and low access in convenience stores.

 

South America Vegan Butter Market Segment Analysis:

On the basis of Type, the South American Vegan butter market is segmented into vegetable butter and nut butter.

 

Vegetable butter is a foodstuff with a distinctively creamy texture made from fat and pureed vegetables. This vegan butter is ideal for people sensitive to lactose or casein because it is made entirely of veggies and includes no dairy components. A culinary paste formed of nuts is called nut butter. Other components, including salt, sweeteners, and flavors, are frequently added. Nut butter of all kinds, including almond and peanut butter, can be utilized. Almonds, cashews, and peanuts are the most popular nuts used to manufacture this food. These culinary items are frequently consumed alone or with bread or crackers. Vegetable butter is more commonly utilized as it can be consumed by those who may be allergic to certain ingredients used to prepare vegan butter.

 

 

On the basis of Channel of Distribution, the South American Vegan butter market is segmented into Hypermarkets, Convenience stores, Online medium, and Others.

 

In supermarkets and hypermarkets, vegan butter is used for cooking. It's also used to replace dairy butter, which may be kept at room temperature. Vegan butter has several advantages over dairy products, including the absence of lactose and casein (milk proteins), lack of cholesterol, and need for refrigeration. Health worries about the former components make them popular with those who may not typically consume vegan alternatives to dairy food products.

 

As it is less perishable in consumer goods stores and has a longer shelf life than dairy butter, vegan butter is well-liked at convenience stores. Health-conscious consumers prefer vegan butter over traditional dairy products, which are also popular among vegetarians.

 

Since the advent of technology and the internet has taken over so many aspects of our lives, the internet can also be used to order and purchase grocery items. This mode of distribution offers convenience and discounts as well. Hypermarkets hold the largest segment in the vegan butter market in terms of channels of distribution. The online medium is growing steadily and is estimated to be the largest segment in the forecast period.

 

South America Vegan Butter Market Regional Insights:

The South American Vegan Butter Market is divided into the following areas; Argentina, Brazil, Peru, Chile, and Uruguay.

 

South America is the 3^rd largest consumer of Vegan Butters market size in 2030 is expected to witness a 5.7 % increase from 2023. The massive number of well-known Vegan Butter manufacturers like butter me up, Pure, and NotCo provides a wide variety and good quality vegan products in the South American market. The market in South America has exponentially grown over the past few years and is expected to do so, owing to changing consumer needs and wishes.

 

The objective of the report is to present a comprehensive analysis of the South American Vegan Butter Market to the stakeholders in the industry. The report provides the most dominant trends in the South American Vegan Butter Market and how these trends de influence new business investments and market development throughout the forecast period. The report also aids in comprehending the South American Vegan Butter Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the South America Vegan Butter Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key industry players and their recent developments in the South American Vegan Butter Market. The report studies the company size, market share, market growth, revenue, production volume, and profits of the key players in the South American Vegan Butter Market.

 

The report provides Porter's Five Force Model, which helps design the business strategies in the market. The report helps identify how many rivals exist, who they are, and their product quality in the South American Vegan Butter Market. The report also analyses if the South American Vegan Butter Market is accessible for a new player to gain a foothold in the market and their entry or exit, and if a few players dominate the market.

 

The report also includes a PESTEL Analysis, which aids in developing company strategies. Political variables help determine how much a government can influence the South American Vegan Butter Market. Economic variables aid in analyzing economic performance drivers that impact the South American Vegan Butter Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the South American Vegan Butter Market is aided by legal factors.

 

South America Vegan Butter Market Scope:

South America Vegan butter Market
Market Size in 2023	USD 0.43 Bn.
Market Size in 2030	USD 0.63 Bn.
CAGR (2024-2030)	5.7%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Vegetable Butter Nut Butter
	By Channel of distribution Supermarkets Convenience stores Online medium Others
	By State Chile Uruguay Argentina Brazil Peru

 

South America Vegan Butter Market Key Players: 

• NotCo
• Butter me up
• Earth balance
• Wildbrine
• Fora foods
• Miyoko’s Kitchen
• Wayfare